SMM Building of Physical Nonferrous Metals Trading Platform Gets Approved

BEIJING (SMM): Shanghai Metals Market (SMM), the leading metals information provider in China, received the approval on Jan. 26 to set up a physical trading platform for nonferrous metals in Shanghai Free Trade Zone. 

The platform or SMM Trading Center, is one of eight commodity trading platforms in the Shanghai Free Trade Zone, part of an ongoing initiative to develop Shanghai into an international trading hub. 

Meanwhile, the free-trade-zone copper -premium swap (FCP) is also expected to be launched around the 2015 Chinese New Year holiday, which falls in mid February 2015.   

The service, introduced by Shanghai Clearing House, is also based on SMM data.  

Courtesy: www.metal.com